Acadian Asset Management LLC Invests $3.12 Million in Antero Midstream Corporation $AM

Key Points

• Acadian Asset Management LLC has acquired a new position in Antero Midstream Corporation, purchasing 173,658 shares worth approximately $3.12 million during the first quarter.
• Antero Midstream recently announced a quarterly dividend of $0.225, reflecting an annualized yield of 4.9% and a payout ratio of 94.74%.
• Analysts have raised their price targets for Antero Midstream, with some upgrading their ratings from "hold" to "buy," indicating a bullish outlook for the company's stock.

Acadian Asset Management LLC acquired a new stake in Antero Midstream Corporation (NYSE:AM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 173,658 shares of the pipeline company's stock, valued at approximately $3,121,000.

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in Antero Midstream by 19.1% in the fourth quarter. Ameriprise Financial Inc. now owns 412,371 shares of the pipeline company's stock worth $6,223,000 after purchasing an additional 66,056 shares in the last quarter. Deutsche Bank AG boosted its holdings in Antero Midstream by 16.4% in the 4th quarter. Deutsche Bank AG now owns 182,608 shares of the pipeline company's stock worth $2,756,000 after buying an additional 25,670 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Antero Midstream by 91.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 224,326 shares of the pipeline company's stock worth $3,385,000 after purchasing an additional 107,095 shares during the last quarter. Millennium Management LLC raised its position in shares of Antero Midstream by 19.2% during the 4th quarter. Millennium Management LLC now owns 2,218,167 shares of the pipeline company's stock valued at $33,472,000 after buying an additional 356,982 shares during the period. Finally, Nomura Holdings Inc. purchased a new stake in Antero Midstream in the fourth quarter valued at approximately $675,000. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total transaction of $685,604.05. Following the transaction, the insider directly owned 106,489 shares in the company, valued at $1,864,622.39. This trade represents a 26.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is owned by insiders.

Antero Midstream Stock Down 0.3%

NYSE AM traded down $0.05 during mid-day trading on Friday, hitting $18.57. The company's stock had a trading volume of 7,260,613 shares, compared to its average volume of 2,163,338. The company's 50 day simple moving average is $17.92 and its 200 day simple moving average is $17.80. Antero Midstream Corporation has a twelve month low of $14.22 and a twelve month high of $19.08. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 19.55 and a beta of 0.92.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The company had revenue of $305.47 million for the quarter, compared to the consensus estimate of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The firm's quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. Analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Wednesday, July 23rd. Antero Midstream's dividend payout ratio is 94.74%.

Analyst Ratings Changes

AM has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company boosted their target price on Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Zacks Research upgraded shares of Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Morgan Stanley upped their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group raised their target price on shares of Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $18.50.

About Antero Midstream

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.